the renter generation
Dallas declared a top-20 hotspot for Gen Z renters in new report
The overwhelming majority of Dallas Gen Zers are renters.
A new report has confirmed what most Dallas-based Gen Zers already know: Homeownership rates aren’t looking good for the Zoomer generation. In fact, over 88 percent of all Gen Zers in Dallas-Fort Worth are renters, not homeowners, according to a new Rentcafe study.
The housing report analyzed the U.S. hotspots where Gen Zers (individuals born between 1997 and 2012) are renting versus buying their homes. Using homeownership and renting data across 97 U.S. metros, RentCafe’s analysts determined which cities have had the biggest gains in Gen Z renters and homeowners from 2018-2023.
Dallas-Fort Worth ranked No. 16 in the national comparison of metros where nearly all Gen Z individuals rent. The study’s findings show there were 189,461 Gen Z households who were renters in 2023.
The prevalence of Gen Z renters in DFW has skyrocketed over the last five years; there were only 26,251 DFW-based Gen Z renter households in 2018.
During the same five-year period, the rate of Gen Z homeowners in DFW grew from 2,048 to 25,002 households. But that only represents 11.66 percent of the entire Gen Z population in the Metroplex, RentCafe found.
Unsurprisingly, affordability is one of the biggest hurdles that the younger generation faces when it comes to homeownership. It can be hard to feel optimistic about buying a starter home when even Post Malone's modest childhood home in Grapevine hit the market for more than half a million dollars.
RentCafe adds that metros with good job opportunities (and good pay), recreational activities, and good schools are top-of-mind for Gen Zers that want to settle down in one place.
“And it’s not just the big coastal cities that offer these things,” the report’s author wrote. “While major hubs like New York City and Boston still attract Gen Z renters, the real growth is happening in the South.”
A separate housing affordability report hinted Dallas home prices are starting to cool off after a two-year price surge, which could bring relief to homebuyers of all ages. According to the latest market insight from the MetroTex Association of Realtors, housing prices in Dallas County have dipped 2.8 percent since last February, to $359,695.
Gen Z renter and homeownership rates in other Texas cities
The meteoric rise in Gen Z renters is not just happening in Dallas — every major city in Texas is seeing similar shifts in their renter populations.
Austin has the second-highest share of Gen Z renters in Texas, and it ranked No. 6 among U.S. metros where nearly all Gen Zers are renters. A surprising 91.56 percent of all Gen Z individuals living in the Austin area rent, and only 8.44 percent are homeowners. Out of the total 102,323 Gen Z households living in the metro, 93,687 are renters, while the remaining 8,636 own their homes.
In Houston, 162,305 Gen Z households are renters and 27,093 are homeowners. That means about 86 percent of all Gen Z households rent, and 14 percent own homes.
San Antonio, on the other hand, is home to one of the highest rates of Gen Z homeowners in the state. About 20 percent of Gen Z San Antonians are already homeowners, while the remaining 79.57 percent are renters. That adds up to about 13,862 Gen Z homeowners, and 53,998 renters.
